Apprenticeships are a time-tested method for recruiting and retaining new employees, and equipping them with the company-specific skills they’ll need to succeed in their industry. Capital Area Workforce Development Board and NCWorks are hosting an Apprenticeship Summit for local businesses and organizations to learn more about this exciting way to train a new workforce. An apprenticeship is a lucrative way for workers to learn new skills, adapt to a new company environment, and make money. Recruited employees spend an average of 2,000 hours training on the job, and 144 hours of classroom based instruction per year, with an “earn as you learn” pay scale. This event is designed for employers and business partners instead of stakeholders. If your business colleagues need help enhancing their talent pipeline, apprenticeships are effective in training for all industries. Work-based learning, such as internships, co-ops and apprenticeships, have proven to be beneficial for both employers and employees, as recruits are able to learn the skills needed to thrive within a specific company, organization, and industry.
Apprenticeship programs have proven economic results for employers and businesses across the world. Apprenticeships have a well-established history of success in Europe. A typical apprenticeship in England is estimated to raise an employer’s economic output by about $366 per week. A Swiss study found that employers in their country earn a net $300 million each year from the work apprentices do while training on the job. They are even proven to be effective in North America. A 2009 Canadian study found that, for every $1 Canadian businesses invested in apprenticeship programs, they could expect to receive $1.47 back.
This is a free event that will feature a panel of businesses to demonstrate how an apprenticeship program will help a company customize employees’ skills and training so as to best fit an organization, boost retention rates of employees, and make a positive return on investment for apprentices hired. Additional incentives for utilizing an apprenticeship program include saving money on overall wages and building a network of employees to fulfill labor demands. Join the discussion on work-based learning, and register today. This event will be held at the Embassy Suites in Cary on May 18.
challenges, and all that is involved in generating positive outcomes. These conversations have helped board members to better understand the inner workings of running year-round and grant-funded programs.
